Brookfield Infrastructure Partners (NYSE:BIP) Announces Quarterly Earnings Results

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) released its quarterly earnings results on Thursday. The utilities provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.80), Zacks reports. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $1.91 billion. Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.50%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share.

Brookfield Infrastructure Partners Stock Down 2.2 %

Shares of Brookfield Infrastructure Partners stock traded down $0.69 on Friday, reaching $30.35. The company’s stock had a trading volume of 418,492 shares, compared to its average volume of 437,148. Brookfield Infrastructure Partners has a 52 week low of $21.03 and a 52 week high of $33.52. The firm’s fifty day simple moving average is $29.16 and its two-hundred day simple moving average is $29.46. The company has a market capitalization of $14.08 billion, a price-to-earnings ratio of 97.90 and a beta of 1.03.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.405 per share. The ex-dividend date is Friday, August 30th. This represents a $1.62 annualized dividend and a yield of 5.34%. Brookfield Infrastructure Partners’s dividend payout ratio is 522.58%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BIP. BMO Capital Markets decreased their price target on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. StockNews.com downgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. Finally, Jefferies Financial Group dropped their price target on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Brookfield Infrastructure Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, midstream, and data businesses in North and South America, Europe, and the Asia Pacific. The company's Utilities segment operates approximately 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 8.1 million electricity and natural gas connections; and 0.6 million long-term contracted sub-metering services.